Type of Payment codes are very much important in TDS Challan Form No. 281. There are two codes as 200 and 400. Many time it has been observed that depositer deposit TDS in wrong Payment Code which creates problem while submitting TDS returns.
I think, every deductor should some time in knowing the value of these codes 200 or 400. If deductor deposit TDS in code 400 as TDS/TCS Regular Assessment ( Raised by I.T. Deptt.), the same does not appear in .csi file. I mean to say the particular challan can not verified while generating FVU file.
Keeping in view its seriousness , deductor should use 400 code in Challan 281 for making any payment only when demand has been raised by Income Tax Department.